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1031 Exchange

SOLVED

Posted By Juan Soto 3 months ago

Good morning,

Has anyone done a 1031 Exchange disposal in sage? Just want to confirm if I should select Taxable Exchange as the disposal method.

Thanks,

0 Delray 3 months ago

verified answer

Hello Juan,

Frist, I am not an accountant.

It is my understanding that a 1031 exchange is an exchange of similar properties where a Taxable Exchange is an exchange of dissimilar property.

So that, if this is a 1031 exchange it would be a Like-Kind Exchange, not a Taxable Exchange.

~Delray
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0 Juan Soto 3 months ago in reply to Delray

Yes! Thanks!
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